Fumaric Acid Market Analysis and Growth Forecast 2021-2026
According to the latest report by IMARC Group, the global fumaric acid market size reached US$ 660.9 Million in 2020. Looking forward, the market expects to exhibit moderate growth during 2021-2026.
Fumaric acid, or trans-butanediol acid, is a chemical compound that appears as a colorless crystalline solid. It has a fruit-like taste and is produced by the synthesis of petroleum-based chemicals. Fumaric acid helps in generating energy from food in the form of adenosine triphosphate (ATP). It is the primary intermediate in the tricarboxylic acid cycle involved in organic acid biosynthesis in living beings.
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Note: We are regularly tracking the direct effect of COVID-19 on the market, along with the indirect influence of associated industries. These observations will be integrated into the report.
Market Trends:
The global fumaric acid market is primarily driven by its increasing applications in various industries. The rising demand for processed food and ready-to-drink beverages has escalated its demand as fumaric acid acts as an acidulant, preservative, pH adjusting agents and flavor enhancer in the food and beverage industry. In the plastic industry, fumaric acid is employed to manufacture unsaturated polyester resin and alkyd resins, which are used in the building and construction industry. Besides this, with the rising health consciousness, more individuals are becoming incline toward health drinks and nutritional bars containing fumaric acid. Furthermore, several manufacturers have introduced bio-based fumaric acidto develop new processes based on renewable sources. These factors are expected to provide a positive outlook to the market in the coming years.
Breakup by Application:
- Food Additives
- Rosin-Sized Sheathing Paper
- Unsaturated Polyester Resins
- Alkyd Resins
- Others
Breakup by End-Use:
- Food and Beverages Industry
- Cosmetics Industry
- Pharmaceutical Industry
- Chemical Industry
- Others
Market Breakup by Region:
- North America (United States, Canada)
- Asia Pacific (China, Japan, India, South Korea, Australia, Indonesia, Others)
- Europe (Germany, France, United Kingdom, Italy, Spain, Russia, Others)
- Latin America (Brazil, Mexico, Others)
- Middle East and Africa
Competitive Landscape with Key Player:
- Bartek Ingredients Inc.
- Dastech International
- Fuso Chemical Co., Ltd.
- Polynt
- Prinova Group
- Changzhou Yabang Chemical Co. Ltd.
- Nippon Shokubai
- The Chemical Company
- Thirumalai Chemicals
- U.S. Chemicals
- Wego Chemical Group
- Huntsman Corporation.
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As the novel coronavirus (COVID-19) crisis takes over the world, we are continuously tracking the changes in the markets, as well as the industry behaviours of the consumers globally and our estimates about the latest market trends and forecasts are being done after considering the impact of this pandemic.
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